Bank of America analyst says Bitcoin is in an oversold sector Michael Hartnett warns that if the S&P 500 drops further to around 6600 points, it could trigger a policy response from the White House or the Federal Reserve. Hartnett lists surging oil prices, prolonged Iran conflict, and global instability as potential triggers. He also points out that assets like gold, semiconductors, and European stocks are in an overbought state, while sectors like software, bank loans, and Bitcoin, which are oversold, might stabilize after policymakers step in. Potential interventions include easing tariffs, promoting conflict de-escalation, or the Federal Reserve implementing rate cuts, bond purchases, and other stimulus measures.